Market Watch spotlight on NCB

NCB Financial third results are due on Thursday that could determine the direction for the stock on Friday and into the week following, as such this is the prime candidate to watch.
Barita Investments pulled back from the record high of $83 at the close of the previous week to $72 with good volume changing hands. Barita released details of the resolution for the extraordinary meeting for the proposed rights issue that will amount to 106 million shares that works out at one share for each 15 held.
Results for Caribbean Cement should be out by the weekend but reports indicates that the company announced local sales of 950,000 tonnes for 2019 that would represent an eight percent increase over 2018. That increase plus price increases implemented last year along with cost reduction will result in a big boost to profit.
Neither NCB or Carib Cement, have much volume of stocks selling currently, accordingly positive results could move them higher. Jamaica Broilers and Jamaica Producers may not break out just now but there is very limited selling and good news could push them higher at any time. Jamaica Stock Exchange closed at a 52 weeks’ high of $38 on Friday but there is little volume on sale and that could encourage more gains for the stock, especially as some investors equate increased trading volume since Wigton  Windfarm was listed, with increasing revenues and profit for the exchange. Radio Jamaica hit a 52 weeks’ high of $1.40, on Friday on increased buying interest but some selling came in to move the price down to $1.24. At the close just over 1 million units were on sale at $1.24.

Caribbean Cement Q2 results expected before end of July

Sygnus Credit Investments is coming into its own with limited supply of the stock for sale, the price retreated during the past week and may not move much in the week, investors should continue to watch it. Wisynco Group came back into the spotlight with demand pushing the price to a record high at $21. At the close on Friday, there was limited volume on offer that could result in more gains for the stock.
Blue Power has just one offer on sale at the close on Friday but buying has increased with the proposed split up of the company into two separate ones. Caribbean Flavours has limited supply of stocks for sale and is worth watching. Fontana hit at a new high of $9 on Friday, but selling pushed the price down, to close at $7.41, but the price may fall further before resuming its upward climb with the pending opening of the new Kingston branch, in September. Stationery and Office Supplies still has little supply offered for sale and could break over the $10 barrier at any time, especially with the June quarter results due out in weeks. Elite Diagnostic with rising demand and slowing supplies could bounce, having traded at $5. The company’s new Drax Hall branch in St Ann is set to open in August and will add to revenues and profit at a later stage. Elite has more than 387,000 units on offer at $5 and that could constrain upward price movement for some time. Lasco Financial price bounces around $4.50. The stock is undervalued and could see increased buying interest, ahead of the June quarter results that could be released at any time, In 2018, first quarter results were releases on the 17 of July. Lasco Manufacturing released first quarter numbers on the 31 of July last year and Lasco Distributors released theirs on the 19. The results could move prices of the stocks higher.

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